-
The most traded January rebar contract on Shanghai Futures Exchange declined further during the week to October 18, slipping by a total of Yuan 87/tonne ($12.3/t) from the settlement price on October 11 to close at Yuan 3,310/t by the end of the daytime session on Friday. Market participants said that despite a decline in stocks, market sentiment had stayed pessimistic and the slowing economic growth had further dampened prices.
-
Domestic rebar output among the 137 long product steelmakers across China that Mysteel tracks regularly reached 3.4 million tonnes over October 3-9 for a 9% on-week rebound, compared to the 11% on-week decline observed during the prior week, according to Mysteel’s latest survey.
-
China’s national average price for Q235 3mm HRC declined Yuan 28/tonne ($4/t) from October 8 to Yuan 3,759/t including the 13% VAT as of October 11, as the concern on a possible supply worsened amid the rebound in output in the near term while rather stable demand, market source shared.
-
Steel inventories at both traders and steel mills reversed down over October 9-10 after increasing markedly during China’s National Day holiday over October 1-7, according to Mysteel’s latest survey published on October 11. The stock levels thinned mainly because traders and end-users returned to the market after the holidays with renewed vigour for buying, but market sources remain concerned about stock digestion in the future.
-
Steel inventories at both traders and steel mills increased markedly during China’s National Day holiday over October 1-7, as the gradual recovery in steel production continued while steel trading activity was almost stagnant, new Mysteel data show.
-
Production of rebars among the 137 Chinese steelmakers Mysteel tracks regularly plunged by 11% on week to 3.1 million tonnes during September 26-October 2, the lowest level since February 14-20, according to Mysteel’s latest weekly study. Survey respondents cited the major curtailments of steel output nationwide late last month as the chief cause of the drop.
-
Over September 19-25, the 137 sampled longs steelmakers across China produced about 3.5 million tonnes of rebar, up another 2.5% on week mainly on higher output in South China, according to Mysteel’s latest survey.
-
Stocks of hot-rolled coil at China’s 37 flat steelmakers under Mysteel’s weekly survey reversed down by 44,300 tonnes or 4.5% on week to 943,400 tonnes as of September 25, mainly as these steel mills slowed down the pace of production over September 19-25.
-
Total rebar output from 137 sampled long steel producers including integrated and mini mills and re-rollers across China ended its six weeks of contractions over September 12-18 and reversed up 2.9% on week to about 3.4 million tonnes, according to Mysteel’s latest weekly survey release.
-
For the week of September 14-20, China’s steel export prices continued to slide but sales showed signs of improvement, market sources indicated on Tuesday.
-
Chinese domestic price of hot-rolled coil declined moderately over the week of September 16-20, as transactions among traders and downstream consumers slowed down while the steelmakers’ production remained high and stocks increased, Mysteel Global has learned.
-
Inventories of the five major finished steel items among the 184 sampled steelmakers Mysteel tracks regularly showed signs of increasing over September 12-18 after shrinking for two straight weeks, edging up by 0.1% on week to some 4.8 million tonnes, according to Mysteel’s latest weekly stocks survey. The finished steels comprise rebar, wire rod, hot rolled coil, cold rolled coil and medium plate.
-
The most-traded rebar contract on the Shanghai Futures Exchange, that for deliveries in January 2020, lost another Yuan 59/tonne on September 20 from the previous day’s settlement price or by a total of Yuan 161/t on week over the September 12-20 week to end the daytime trading session at Yuan 3,388/t.
-
China’s domestic prices of hot-rolled coil increased further during the week of September 12, thanks to stronger trading and firm demand, Mysteel’s latest data shows. However, the specter of high supply still casts a shadow over the market, Mysteel Global has learned.
-
The on-week decline in rebar output among the 137 sampled longs steelmakers Mysteel surveys narrowed to 0.9% over September 5-11, down by 2 percentage points from the prior week, according to Mysteel’s recent production study.
-
Stocks of the five major finished steel items at Chinese traders and steel mills declined further during the week of September 5-11, mainly due to the fact that actual demand witnessed increases as downstream consumers showed stronger intention for making procurement, Mysteel Global learned from the market.
-
Chinese national average price for Q235 3mm HRC rebounded Yuan 32/tonne ($4.5/t) on week to Yuan 3,804/t including the 13% VAT as of September 6, in the context of overall sentiment improvement in China’s domestic steel market on signs of actual demand recovery starting September, Mysteel Global has learned from the market.
-
The continuous falls in Chinese carbon steel export prices over the past few weeks took a pause over August 31-September 6 as domestic steel exporters and overseas buyers reached a stalemate on price after a seesaw battle, market sources observed Monday.
-
The 137 steel mills making long products which Mysteel regularly canvasses produced a total of 3.38 million tonnes of rebar over August 29-September 4, down by another 2.9% on week and making for the fifth straight week of declines, according to Mysteel’s latest weekly production study.
-
The most traded rebar contract on the Shanghai Futures Exchange for January increased by Yuan 69/tonne ($9.7/t) over the week from the settlement price on August 30 to close the daytime trading session on September 6 at Yuan 3,387/t, exchange data shows. The rise was mainly thanks to expectations of a demand recovery in the peak consuming season that begins this month, as well as Beijing’s likely easing of monetary policy which may lift steel demand, Mysteel Global noted.
